EXHIBIT 12
Trinity Industries, Inc. and Subsidiaries
Computation of Ratio of Earnings To Fixed Charges
Computation of Ratio of Earnings To Fixed Charges
For the Year Ended December 31, | ||||||||||||||||||||
2008 | 2007 | 2006 | 2005 | 2004 | ||||||||||||||||
($ in millions) | ||||||||||||||||||||
Earnings: | ||||||||||||||||||||
Earnings (loss) from continuing operations before provision (benefit) for income taxes | $ | 462.8 | $ | 463.2 | $ | 348.5 | $ | 176.1 | $ | (21.6 | ) | |||||||||
Add: | ||||||||||||||||||||
Fixed Charges | 125.3 | 101.0 | 86.8 | 64.7 | 59.5 | |||||||||||||||
Amortization of capitalized interest | 0.1 | 0.1 | — | — | — | |||||||||||||||
Total earnings from continuing operations before provision (benefit) for income taxes | $ | 588.2 | $ | 564.3 | $ | 435.3 | $ | 240.8 | $ | 37.9 | ||||||||||
Fixed Charges: | ||||||||||||||||||||
Interest expense | $ | 100.4 | $ | 76.2 | $ | 64.1 | $ | 42.2 | $ | 42.8 | ||||||||||
Portion of rental expense representative of interest | 24.9 | 24.8 | 22.7 | 22.5 | 16.7 | |||||||||||||||
125.3 | 101.0 | 86.8 | 64.7 | 59.5 | ||||||||||||||||
Capitalized interest | 0.9 | 0.6 | 0.3 | 0.7 | — | |||||||||||||||
Total Fixed Charges | $ | 126.2 | $ | 101.6 | $ | 87.1 | $ | 65.4 | $ | 59.5 | ||||||||||
Ratio of Earnings to Fixed Charges | 4.66 | 5.55 | 5.00 | 3.68 | 0.64 | |||||||||||||||
Footnote:
(a) | Earnings were inadequate to cover fixed charges for the year ended December 31, 2004. The deficiency for this period was $21.6 million. |